Pattaya property is back on the radar of property investors with news that an award-winning, U.K.-based buy-to-let investment firm has identified the Gulf of Thailand city as one that can offer low prices and stables rental yields.
Property Frontiers is touting Pattaya property The Peak Towers in the Cosy Beach area as one that typifies the kind of investment opportunity that international buyers are seeking.
The completed 30-storey apartment building has top end amenities, three swimming pools, a rooftop infinity pool, a Zen relaxation/fitness zone and other on-site benefits.
Individual apartments are both spacious and stylish, with quality finishes and good-sized balconies.
Studio apartments at The Peak Towers through Property Frontiers are available from £60,617 (THB 2.64 million), with up to 6 percent yields expected.
According to the firm, 2018 is set to be an interesting year for investment, with Asian markets – and in particular Thailand – coming to the fore once more.
Ray Withers, the Chief Executive Officer of Property Frontiers, said: “Thailand is expected to continue its resilient growth over the course of 2018.”
“The country is blessed with an outstanding natural environment, which combines with its fascinating culture to drive a thriving tourism sector.”
“At the same time, property prices are some of the most stable and reliable in the region.”
“The steady rise has been seemingly immune from economic and political fluctuations, which makes for a promising environment for property investors from around the world.”
He added that as global interest hones in on Thailand and its stable, consistent property market growth, rental income in regional cities looms large on the agenda.
Governmental intervention has created a mature rental market that is increasingly friendly to international buyers, and locations like Pattaya are reaping the rewards, he said.
“Lower investment prices than Bangkok, but equally attractive returns, are the cornerstone of such regional markets.”
Many Thailand property market watches will know there is oversupply in some parts of Pattaya.
According to Colliers International, in its latest Pattaya property research covering the first half of 2017, the real estate firm noted: “Only 488 condominium units were launched in Pattaya City during the first half of 2017, largely because completed projects still remained available on the market.”
Colliers added this was because more than 15,000 condominium units were launched every year from 2011 through to 2013. Figures decreased to approximately 12,000 units in 2014, and to fewer than 10,000 units in 2015, and to only 2,100 units in 2016.
“The declining trend of condominium units launched in Pattaya City has reflected the market slowdown and the decreased purchasing power in the market,” it noted.
“Given the large quantity of condominiums launched during the past few years, many condominium units in Pattaya City remain to be absorbed in the market,” it concluded.